Peter Hargreaves and his family are delighted to announce that they are establishing a charitable foundation, to be known as The Hargreaves Foundation.

The Foundation will have the specific objective of providing financial support to help the disabled and underprivileged lead a full life through engagement in education, sport and associated activities, with an initial focus on assisting those who are under 18. 

The Foundation will be based in Bristol and will provide funding to charities and organisations across the UK.

The Foundation will be funded through a transfer of shares held by Peter Hargreaves in Hargreaves Lansdown plc to the Foundation. The value of the transfers in the first year will be approximately £100 million with the intention of further meaningful grants over time. The initial shares transferred will be held by the Foundation for at least a two year period with the dividend income from these shares available for grant spending in line with the Foundation’s objectives.

Peter and his family are also pleased to announce that Alexandra Butler has accepted the role of Managing Director of the Foundation.  Alexandra is well known to the family having worked for Hargreaves Lansdown between 2000 and 2017.  Alexandra will now look to recruit other permanent employees to assist in running the day-to-day operations of the Foundation.  The team will be overseen by the Foundation’s trustees being Peter Hargreaves, his children, Robert Hargreaves and Louisa Hargreaves, and Nigel Bence.

It is intended that the Foundation, which has been approved by the Charity Commission, will be operational, with permanent staff and able to disburse grants, by the second half of 2020.

Peter Hargreaves said: “I have been very fortunate in my life to have had a successful career, helping to build an exceptional company and one that has transformed the opportunities for individuals to save and invest for their futures.

"While I am proud of my professional achievements, my family and I now wish to establish a more formal and sustainable structure to enable us to make a positive and significant contribution outside of the world of work.  Having spent the last few years in retirement, I have had time to reflect on and discuss with my family how best to make that contribution and to which causes. 

"Our focus, through the Foundation, will be on seeking to improve the lives of young individuals, whether with disabilities or from underprivileged backgrounds, and to assist them in leading the fullest and happiest lives possible. As a family, we have all benefitted from education and our love of participatory sport. We are in the process of recruiting a team of professional people to manage the Foundation and to identify people, programmes and initiatives that we can support to achieve these goals and make a meaningful difference to many young people’s lives.”

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